Portfolio

New York Life Insurance has hired 100 staff to support sales of fixed annuities through the banks, on the heels of sales in this channel increasing 130% in 2008.

Small business owners view having a solid retirement plan as critical, both personally and for employees, according to an survey of 1,000 people by SunTrust Bank. Nonetheless, nearly 40% do not offer one.

Reserve Management has returned $45.8 billion, or 89% of the assets in the now-defunct Primary Fund, but is holding onto $3.5 billion to defend itself against more than 30 lawsuits.

The current rise in the markets is not a bear market rally, but actually a turn for the better, according to Fidelity U.K. portfolio manager Anthony Bolton, Reuters reports.

Optimism is returning to the markets, with 26% of fund managers surveyed by Merrill Lynch believing that the global economy will improve within the next 12 months. In January, that measure was net negative 24%.

Direxion Funds has launched four three-times leveraged exchange-traded funds, expanding its existing lineup of 16 multi-directional, leveraged funds to 20.

Although the underlying credit card and auto debt assets in the TALF funds are leveraged as much as 20:1, mutual fund companies anxious to invest in them are telling the Securities and Exchange Commission that they are structured as safe, non-recourse loans, the New York Daily News reports.

The Eighth U.S. Circuit Court of Appeals has just ruled in favor of investors in a case against Ameriprise Financial over the fees of 11 of its RiverSource mutual funds. Coming on the heels of a similar case against Harris Associates that the Supreme Court will hear this fall, it could signal a new era in favor of investors.

The Eighth U.S. Circuit Court of Appeals has just ruled in favor of investors in a case against Ameriprise Financial over the fees of 11 of its RiverSource mutual funds. Coming on the heels of a similar case against Harris Associates that the Supreme Court will hear this fall, it could signal a new era in favor of investors.

Fidelity’s net profits fell only 4% last year, and they may be weak again this year, despite cost-cutting measures and laying off 3,000 workers, Fidelity President Rodger Lawson warned employees in a recent memo. As a result, the company may scale back on year-end bonuses and merit pay for those in the middle and lower earnings brackets.